MEMORANDUM FOR: D/OER FROM (Sanitized)

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80B01495R000300070024-9
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 8
• Document Creation Date: January 4, 2017
• Document Release Date: June 30, 2005
• Sequence Number: 24
• Publication Date: October 26, 1974
• Content Type: MF

STAT
TAT
IEMOR,Q0gL"eO r Re 2005/07/22: CIA R# P8fl P5ROSO 300070024-9
did mention the 6% in a Congressional briefing-
Could you have someone give'us a brief
rundown on this? Seems possible that the DCI
but wouldn't he have been talking about total f"
energy consumption? Is there an unclassified
:record of what he said? We'd appreciate'a'
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William P. Cheshire
Editorial Director
TELEPHONE (919) 82E3-2511
P.O. DOX 12000
T V
2619 WESTERN BOULEVARD
RALEIGH, NORTH CAROLINA 27605
October 14, 1974
The Central Intelligence Agency
Administrative Offices
McLean, Virginia
Gentlemen:
We invite your attention to the attached copy of an editorial
(no. 3111) telecast by this station on 10/10/74 at 6:20PM and
on 10/11/74 at 6:55AM. We hereby offer our facilities to you
for response to any statements contained therein to which you
may wish to present an opposing view. We will be glad to hear
from you in this connection.
Sincerely,
L
W~ ~.I am P. Cheshire
WPC/br
Enclosure
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 An Editorial Expression of the Voice of Free Enterprise
# 3111-10/10/74
It's a curious thing. A year ago, various "experts" were assuring
Congress and the public that the Arabs,,rquld be safely ignored while we
rushed to the side of Israel, because the A'? boil we used amounted to
barely a drop in the oce.a-n`
Testifying last./year at the height of the Arlie-Israeli war, the head
_.of --the.... U.__S._ ..Central. Intelligence Agency assured Congress that Arab oil
accounted for only about 5 or 6 percent of what we used. Newsweek rnagazin
in a widely noted cover article last September,.--]aUt the Arab contribution
How things. have cha`P g :-- + has elapsed, and the new word from
on high is that Arab oil prices are to blame for inflation.n order to
survive, we are told, 0anerica may have to declare war against the whole
Middle East, minus Israel; which has no oil. It's nonsense.
Now, to recognize that it's nonsense is not to argue for slinging
ourselves at the feet of King Faisal. It's to argue for keeping our wits,,
so as not to be taken in by clever propaganda.
Take alarmist reports that the price of oil has quadrupled. There's
some justification .for complaint. Mideast oil is priced too 5h_igh. But for
years, the oil companies got Mideast oil at a steal. It was possible to
ship,oil halfway around the world from the Persian Gulf and still sell
it for less than oil from Texas. So when it's said that the price has
quadrupled, one needs to keep in mind the old skinflint price of $2 a
barrel.
Because they've raised prices, the oil producers are prospering. But
the question should not be whether they are prospering. (It's scarcely
sporting of us to wish they weren't.) The question should be whether we
are getting gouged and whether the gouging is so horrendous that we
should seriously contemplate World War III.
The answer is no; we should contemplate no such thing-. To toy with
the notion that we should -- and to toy with it at the very highest level
-- is dangerous to the point of recklessness. Yet top American officials
are reported in Newsweek and elsewhere to have under consideration
wild schemes ranging from assassinating oil sheiks- to sending airborne
troops to the Persian Gulf.
This station's editorials are solely the responsibility of the owners and are voiced by our Editorial
Director, William P. Cheshire, after an editorial board has agreed upon their contents.
-,plpF V"rFbOReleasfat2O?6 OJ7$2QhicOPOOBO4495R6fl0 OO9700ZC.8rnp.ir,y, Inc.
(Operator of WRAL-TV, WRAL-FM, and Tobacco Radio Network, inc,J
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It verges on insanity. Exactly what we don't need is scene hare-brain,
Tong war. What we do need is a policy that makes friends among the oil
producers -- the kind of policy we have followed, somewhat jerkily, for
the past several months. In terms of getting oil at a negotiated price,
no other policy makes sense.
Viewpoint # 3111 ............................................October 10,
"?V IEAppravegd-iForRelease-2CMO : ilAwRIDPOSBOT495RO 3800 24L~9? VOECEU EY W21-LIAM P.
CHESHIRE, EDIT: AL :TOR OF THIS COMPANY. DISSENTING OPINION IS `WELCOVE. WHEN tier. fl 4(i, PLEASE
STATE CLEARLY a ND ADDRESS, AND INDICATE YOUR WILLING`., ES FOR YOUR EY. RE&StON TO LLE USED
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+J.. C ~ 4 2070/a
C ' ^7
2 v our
t-Tonorabie Dante B. Fascell, Chairman
Subcommittee on inter-Aiaericaa: Affaira
Committee on Foreign Aff:.irs
I-louse of Representatives
Waehington, D. C. 20515
Dear Mir. Chairman:
In response to your letter of 20 Se te..."aer 197r co..cer.:ir.'
the transcript of 11 October 1973 hearing before the Subcoi_r~aittce oi-l
Inter..American Affairs, I respectfully rewest thaw lie m.las iiica ion.
of the transcript be maintained.
As you noted at the beginning of the hearing, the ::-le< `ing with
the Subcommittee was the result of a pa for arrangement and .gr em nt
with you and Chairman Morgan. Among the matter s of agr C .iient was
the fact that the meeting would be in executive iab:s a on and
~Juvn the
clear understanding on my part that the matters fii~cassecl e6i csin would
not be released for publication.
As you knew, I want to cooperate with the Foreign Ai airs
Committee to the maximum extent, but that cooperation is use 16c olasFd
on some areas of mutual understanding? in that spirit i \vc'-1d hope
that the COi-ximittoe will appreciate that most of my briefings W.-ill !-lave to
remain classified despite disclosures OA aiformation :road !nose ilearings
or speculation that, may appear :la the prose with respect to the material
covered. '
Si:nCerviy,
W. E. Colby
~i ector
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Distribution:
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MEMORANDUM FOR: Me~,.rs. Pry/Wa,1
I have a vague recollection that the 6%
figure referred to in the attached editorial
represented the Arab-imports component of our
total energy consumption, not of our oil con-
sumption. The DCI may well have testified to
that effect. Shoul,, for the back-
ground on this? es & No
Yise its right ex to reply, but if Colby has
been misquoted and if there's some public
record to demonstrate it (Congressional Record?),
the TV station might be so informed.
(DATE)
FORM
MAY FORM
USED.
AUGN 54 to l WHICH REPLACES
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